B2B commerce startup Soptle has raised $300k in an angel round led by venture firm Kube VC and Soonicorn LLP. Vaishnav Shetty, Pirojshaw Sarkari, Ankur Agarwal, Saurabh Aggarwal, Himanshu Periwal, and others also participated in the round.
The funds would be utilised for expanding its team and further enhancing its product and technology, the startup said in a press release. In August, Soptle had raised an undisclosed amount in an angel round led by Soonicorn LLP and a clutch of logistics leaders.
Soptle was started earlier this year by Pravas Chandragiri as a Software-as-a-Service (SaaS) platform. The startup enables FMCG manufacturers to increase their income by up to 10-folds by providing access to country-wide distributions at zero fixed cost. It also allows retailers to access products with 3-4 times higher margins than average, as well as easy one-tap finance to grow their business.
The firm claims to have empowered over 45,000 retailers and manufacturers in just six months of launch and have seen a consistent 3-folds month-on-month growth for the last six months.
The Gurugram-based startup’s annual recurring revenue has grown to cross $2 million.